CDQ Trend Study: Guidance for addressing the challenges of the future


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The CDQ Trend Study is also available for the CC CDQ Partner companies in the Knowledgebase.       


​Management summary     

CDQ Trend Study cover

The digitalization of the economy, together with mega-trends like big data, Industrie 4.0, or the Internet of Things, are fundamentally changing the way companies do business. Companies must cope with ever-increasing volumes of data to be collected and managed, while at the same time the strategic importance of data for doing successful business keeps growing.

The CDQ Trend Study aims at providing an understanding of the goals of data management and capturing current as well as future activities of companies. It presents insights gathered from an expert survey conducted with experienced data management professionals reflecting various industry backgrounds. In doing so, the CDQ Trend Study provides data managers with useful information on relevant trends and offers practical guidance for implementing data management activities and metrics living up to the challenges of the future.

The key findings of the CDQ Trend Study can be summarized as follows:

Goals:

The emergence of new business trends has a significant impact on data management. Business analytics, Industrie 4.0, and ecosystem collaboration are considered the most relevant business trends for data managers to take into account in the future. Data compliance, security, and privacy will increasingly become strategic data management goals.

Enablers:

Standardization and harmonization of data across the entire organization has been data managers’ key concern for a long time. As companies become more and more data-driven, significantly more activities are required to document and share data about data (i.e. metadata). The focus of data management has shifted from dealing exclusively with master data to encompassing other data classes (e.g. analytical data or web data) and data domains (e.g. customer data or consumer data). Regarding the future, data managers view themselves as solution providers of high agility and customer orientation, contributing data expertise to their organizations’ core areas of operation.

Results: 

Measuring and evaluating the performance of data management is still not very common, with only half of the companies surveyed measuring e.g. turnaround time or data quality. Demonstrating the tangible benefits for business will remain a challenge and a future priority for data managers. Assessing the financial value of data will increasingly be on the agenda. 

The bottom line of the CDQ Trend Study is that data management continues to evolve and mature. However, given the challenges posed by the digitalization of the economy, companies are extending the scope of data management beyond master data in order to deal with new data types and sources,while considering compli­ance, security, privacy and risks as key priorities on top of data quality.

The findings of the CDQ Trend Study are addressed in the CC CDQ’s current research activities. Based on these findings, the CDQ Framework, with its focus on quality-oriented master data management, has been revised to evolve into a more comprehensive Data Excellence Model.

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